Public and private French TV channels to launch Netflix rival

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FILE PHOTO: The Netflix logo is shown in this illustration photograph in Encinitas, California, U.S., on October 14, 2014. REUTERS/Mike Blake/File Photo

PARIS (Reuters) - France’s public TV broadcaster is joining forces with private rivals TF1 and M6 to launch a video-on-demand platform in a bid to compete with the likes of U.S. online video giant Netflix.

“This joint platform aims to spread French and European creation more actively,” the French groups said in a statement.

The three groups will each own a third of the platform, called Salto. They did not disclose a date for the launch.